GoodRx (NASDAQ:GDRX) Sees Strong Trading Volume – Here’s Why

Shares of GoodRx Holdings, Inc. (NASDAQ:GDRX) saw unusually-strong trading volume on Monday . Approximately 1,694,854 shares traded hands during mid-day trading, an increase of 18% from the previous session’s volume of 1,433,816 shares.The stock last traded at $4.34 and had previously closed at $4.15.

Wall Street Analysts Forecast Growth

GDRX has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $10.00 target price on shares of GoodRx in a research note on Friday, August 16th. Raymond James raised GoodRx from an “outperform” rating to a “strong-buy” rating and set a $10.00 price target for the company in a report on Friday, August 9th. UBS Group decreased their price objective on shares of GoodRx from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Friday, August 9th. Barclays cut their target price on shares of GoodRx from $10.00 to $6.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Citigroup lowered their price target on shares of GoodRx from $10.00 to $7.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $8.86.

GoodRx Stock Performance

The stock has a market cap of $1.65 billion, a P/E ratio of -138.33, a PEG ratio of 3.02 and a beta of 1.39. The company has a debt-to-equity ratio of 0.70, a current ratio of 5.48 and a quick ratio of 5.48. The stock has a 50-day simple moving average of $6.55 and a 200-day simple moving average of $7.42.

Insider Activity at GoodRx

In other GoodRx news, major shareholder Equity Vii L.P. Spectrum sold 10,677 shares of GoodRx stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.86, for a total transaction of $83,921.22. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.17% of the stock is owned by company insiders.

Hedge Funds Weigh In On GoodRx

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornercap Investment Counsel Inc. raised its holdings in GoodRx by 1.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 75,269 shares of the company’s stock worth $587,000 after purchasing an additional 1,266 shares during the last quarter. California State Teachers Retirement System lifted its holdings in GoodRx by 5.1% in the first quarter. California State Teachers Retirement System now owns 70,912 shares of the company’s stock valued at $503,000 after buying an additional 3,444 shares during the period. US Bancorp DE boosted its position in shares of GoodRx by 3.7% during the 1st quarter. US Bancorp DE now owns 109,818 shares of the company’s stock valued at $780,000 after purchasing an additional 3,877 shares in the last quarter. Beacon Capital Management LLC bought a new stake in GoodRx in the first quarter worth approximately $28,000. Finally, nVerses Capital LLC bought a new position in shares of GoodRx during the 3rd quarter worth approximately $33,000. 63.77% of the stock is owned by institutional investors and hedge funds.

GoodRx Company Profile

GoodRx Holdings, Inc, together with its subsidiaries, offers information and tools that enable consumers to compare prices and save on their prescription drug purchases in the United States. The company operates a price comparison platform that provides consumers with curated, geographically relevant prescription pricing, and access to negotiated prices.